SummaryLargest ever hack gave Ethena the chance to demonstrate the benefits of off-exchange custody solutions and validated USDe’s design decisions.Ethena holds zero dollar value of the USDe backing assets directly on exchanges, and was able to fully realize $30m of unrealized profit associated with open Bybit positions to minimize counterparty risk within 90 minutes. The realized profit was then settled without issue in the next Copper ClearLoop settlement cycle.Unrealized profit is periodic...

In an effort to improve the transparency of the Ethena protocol’s backing assets beyond our current collateral and exchange breakdown provided on the dashboards, we are excited to share our tenth attestation reports from all integrated custodians, verifying the assets backing USDe reside off-exchange within institutional custodial solutions. Attestation reports will be released on a monthly basis to provide regular updates as to the amount and location of the assets backing the protocol. The ...

Ethena’s USDe and sUSDe were further integrated into Spark’s Liquidity Layer today via enabling direct holding of USDe and sUSDe, up to a total allocation of $1.1 billion in the near term. Onboarding Ethena into the Spark Liquidity Layer will allow Spark to access Ethena rewards directly rather than via lending markets. Spark provides liquidity to some of the largest DeFi platforms in the space such as Aave, Morpho and Base. A direct allocation to sUSDe enables Spark to access sUSDe’s APY, wh...

In an effort to improve the transparency of the Ethena protocol’s backing assets beyond our current collateral and exchange breakdown provided on the dashboards, we are excited to share our ninth attestation reports from all integrated custodians, verifying the assets backing USDe reside off-exchange within institutional custodial solutions. Attestation reports will be released on a monthly basis to provide regular updates as to the amount and location of the assets backing the protocol. The ...

Today Usual, one of the fastest stablecoin issuing protocols, has announced it will be moving to integrate both USDtb and sUSDe as a core part of its business strategy moving forward. Ethena Labs is excited to support Usual as they benefit from integrating the composable and DeFi-first properties of Ethena assets. Usual is the latest billion-dollar protocol to integrate Ethena, with Ethena already playing a key role in Aave, Maker/Sky, Pendle, Morpho, Curve, amongst other projects.Usual x Eth...

Introducing USDtb, a New Stablecoin Product Backed by BlackRock’s BUIDLEthena Labs is excited to announce the public launch of a new stablecoin product, USDtb, which has its reserves invested in BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) - in partnership with Securitize, the leader in the tokenization of real-world assets. USDtb shares characteristics with existing fiat stablecoins such as USDC or USDT, utilizing cash or cash-equivalent reserves to back each token 1:1. Users...

The Largest Options Protocol Has Joined the Ethena Network Family Derive, the largest on-chain options protocol, is partnering with Ethena and aligning with the Ethena Network. This is an extension of Ethena’s existing relationship with Derive. Derive has established sUSDe as collateral on Derive and built the first on-chain structured product for sUSDE. As part of this partnership, the Ethena Foundation has provided a multi-million dollar grant to Derive. USDe is an incredibly powerful tool ...

In an effort to improve the transparency of the Ethena protocol’s backing assets beyond our current collateral and exchange breakdown provided on the dashboards, we are excited to share our eighth attestation reports from all integrated custodians, verifying the assets backing USDe reside off-exchange within institutional custodial solutions. Attestation reports will be released on a monthly basis to provide regular updates as to the amount and location of the assets backing the protocol. The...

We are excited to share that USDe will be widely integrated throughout Gate.io. The integration will include the following features:USDe/USDT spot pair.USDe as rewarding derivatives margin collateral enabling users to earn rewards while trading perpetuals & options.USDe as an “Earn” product.Native staking of USDe for sUSDe within the Gate.io platform.USDe as Rewarding Derivatives CollateralGate.io users using USDT & USDC to margin derivatives positions presently don’t earn any rewards with th...

Mitigating Social Engineering ThreatsTL;DRIn October 2024, our team detected and swiftly thwarted an attempted social engineering attack aimed at compromising our primary account on X.com. The attacker’s strategy included sophisticated identity forgery and social engineering of staff at X.com to circumvent standard security measures, including two-factor authentication (2FA). Our immediate response and coordination with X.com’s support team prevented unauthorized changes and secured the accou...

In an effort to improve the transparency of the Ethena protocol’s backing assets beyond our current collateral and exchange breakdown provided on the dashboards, we are excited to share our seventh attestation reports from all integrated custodians, verifying the assets backing USDe reside off-exchange within institutional custodial solutions. Attestation reports will be released on a monthly basis to provide regular updates as to the amount and location of the assets backing the protocol. Th...

In an effort to improve the transparency of the Ethena protocol’s backing assets beyond our current collateral and exchange breakdown provided on the dashboards, we are excited to share our sixth attestation reports from all integrated custodians, verifying the assets backing USDe reside off-exchange within institutional custodial solutions. Attestation reports will be released on a monthly basis to provide regular updates as to the amount and location of the assets backing the protocol. The ...